About time: Fannie Mae begins taxpayer paybackMay 10, 2013 @ 10:34 am
Fannie Mae announced that it will pay $59.4 billion in dividends to the U.S. Treasury, helping to reduce the net cost of its taxpayer bailout to $21.1 billion, Reuters reported.
A strengthening housing market has helped the mortgage giant to record a record profit in the first quarter this year.
This also marks the fifth-consecutive quarter for profits for the government-sponsored enterprise (GSE). Critics have written that a significant payback program should have already been underway.
Since government regulators took over Fannie Mae in September 2008, it has received $116.1 billion in taxpayer funds.
Freddie Mac, which was also placed into FHFA conservatorship in 2008, has received about $71 billion in taxpayer aid since that time. By the end of June, it will have paid $36.6 billion of that back to the Treasury.
The Seahawks have released the 2014 regular-season schedule
Save the Buses?
A group is gathering signatures to save transit, but Michael Medved has another solution
21 and Over
If 21 is the legal age for alcohol and marijuana, why not cigarettes?
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.